ORIGINAL: Director Sadike Nepela Dies at the Age of 59 2021-07-02 09:36 ET - News Release Summary Vancouver, B.C., Canada – TheNewswire - July 2, 2021 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSXVSM) (OTCSMTF) announces that Luke Sadike Nepela has passed on after a short illness. The Board of Directors offers it’s condolences to his wife and family. The Board acknowledge his dedication as a Director of the Company. John Akwenye, Chairman of Deep-South stated, "We will miss a very good colleague and for some of us we will miss a very good person and friend “. Mr. Nepela will not be immediately replaced on the Board of Directors Complete news available at: https://www.stockwatch.com/News/Item/Z-C!DSM-3106577/C/DSM
The company up to this time has admitted no wrong doing and they've claimed that they've upheld their part of the agreement regarding their obligations on the Haib property. The company has said & maintained that the Namibian Gov't was advised & aprised of EVERY update and modification at every step of it's developmental process. In addition, mgmt has also indicated that Namibian Gov't, specifically the Dept of Mines & Energy, had in fact agreed to all the changes made and there were NO objections on their part. So unless the company has put out an official statement that they admitted to being negligent on their obligations on this property and i've missed it, i maintain my comments above. As for the Namibian Gov't side & all their accusations against Deep South, both can't be right and either one or the other here isn't being totally truth full. Unless the company is outright lying about what they've stated so far or have exaggerated their claims of what said or done, legally the company hasn't breached their contract with the Namibian Gov't ....yet. What is in question though, is whether the company has all these contractual modifications, claims and subsequent Gov't agreement on a legally binding document TO PROVE what they've said. Usually simple modifications like whether technicalties as a PFS, FS or PEA are to be done and what is prioritized is inconsequential are determined by the operator NOT the country's Gov't. The only hand or say the Gov't has in this, is whether to approve or not the PEA. In the end, it should really be up to the company to decide how this process should flow as they are the best judge of what needs to be done to bring projects successfully along to eventual full development. This is how it works in EVERY part of the wolrd and it usually flow through quite easily WITHOUT any complications. BUT in Africa, especially Sub-Saharan, these simple processes become very complicated & in a grey area for reasons i don't want to be into right now. Because there's a lot to be said there and iv'e stated a few in my previous posts here. Even the Chinese & Middle East who are difficult to deal with and are harsh places to operate in don't pull off sh*t like this. Anyway, until the company officially responds to the Gov'ts decision with something more concrete & meaningful besides the "we didn’t do anything wrong" schtick, this is going to remain in limbo for quite a while. If i were managing this situation, i would advise the company to try and resolve as quickly as possible, by either forcing the Namibian Gov't to abide by their contract on the property OR by bringing the matter to the International courts ASAP. The longer this drags on without ANY actions on the company's part or they keep staying silent, the worse it will look for them and it will be.
Size Bid…….Bid……… Ask…Size Ask........Last..........Volume 1237.0........0.045.........0.05.....1169.0.........0.05..........1,787.0
Since June 17, 2021 136,493,249 shares traded Deep-South Shares Issued146,334,700 93.27% of s/i traded
95% of all shares issued traded since june 17, 2021 DEEP SOUTH RESOURCES INC - http://deepsouthresources.com ..........................Last............Volume #DSM - V..........0.055.........741,600 #DSMTF - Q....0.0396........40,000
The Yin and the Yang Haib gone open the door to DSM to acquire 43-101 assets in safer jurisdiction DSM is cash rich and ready to move forward
Since june 17, 2021 nearly 100% of the shares issued traded @ 0.045-0.05¢ the stock tade at cash value per share At that level we have a strong support Now we have 3 potential scenarios 1- Namibia renew the license.......NOPE ......The ministry doesn't want to loose face 2- DSM take legal remedies, Win or Loose the International communities will know that Namibia is no longer a friendly location meaning that Namibia will be blacklisted 3- Use working cap to acquire a better deal in a better location #3 is in the woodwork
https://www.cia.gov/the-world-factbook/static/b5ac4db93b3379cabced51723dda44c1/WA-summary.pdf ECONOMY Economic Overview heavily dependent on the extraction and processing of minerals for export; mining accounts for about 12.5% of GDP, but provides more than 50% of foreign exchange earnings; one of the world’s largest producers of uranium.
https://www.dw.com/en/namibias-president-wants-to-expropriate-land-from-whites/a-45719781 Namibian President Hage Geingob on Monday said he will push forward with expropriating land (70%owned by white people) and redistributing it to the majority black population in the country. Namibia a 3rd world country .....forever.......
